Spectra Energy posts higher net profit, sales

SarahTurner

LONDON (MarketWatch) -- Spectra Energy
SE, -3.84%
said that its second-quarter net income rose to $174 million, or 27 cents a share, from $140 million, or 22 cents a share, in the year-ago period. Analysts had been expecting earnings per share of 29 cents, according to data compiled by FactSet. Operating revenue rose to $1.1 billion, from $937 million last year. The results reflect a sound performance from the company's fee-based businesses, higher commodity prices at its Field Services business, and a stronger Canadian dollar. It said it's well positioned to deliver on its financial, strategic, safety and operational goals.

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